Home Prices continue to rise in metro Phoenix, according to the latest CoreLogic Home Price Index.
Valley home prices gained 6.2% between April 2018 and April 2019, the report said. That's still significantly higher that the 3.6% average home price growth across the country, and was about the same reported for Phoenix in March.
Mortgage rates are significantly lower than they were at the end of last year. Mortgage rates for a 30 year fixed rate last November were close to 5%. Today, rates are at a two year low averaging 3.99% for a 30 year fixed rate.
Between April of this year and April 2020, home prices nationwide are expected to increase at a projected gain of 4.7%, the CoreLogic report said.